TruGolf Holdings, Inc. (NASDAQ:TRUG) Sees Significant Decrease in Short Interest

TruGolf Holdings, Inc. (NASDAQ:TRUG) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 351,700 shares, a drop of 64.4% from the December 15th total of 988,200 shares. Currently, 6.4% of the company’s stock are short sold. Based on an average daily volume of 5,190,000 shares, the days-to-cover ratio is presently 0.1 days.

TruGolf Stock Down 11.1 %

Shares of NASDAQ:TRUG opened at $0.51 on Tuesday. TruGolf has a 12-month low of $0.35 and a 12-month high of $10.00. The business has a 50 day moving average of $0.53 and a 200-day moving average of $0.86. The stock has a market cap of $6.08 million, a PE ratio of -1.22 and a beta of -0.85.

Wall Street Analyst Weigh In

Separately, Maxim Group initiated coverage on TruGolf in a report on Thursday, December 19th. They set a “buy” rating and a $2.00 price objective for the company.

Institutional Trading of TruGolf

A hedge fund recently bought a new stake in TruGolf stock. Clear Street Derivatives LLC bought a new position in shares of TruGolf Holdings, Inc. (NASDAQ:TRUG) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf accounts for about 0.0% of Clear Street Derivatives LLC’s investment portfolio, making the stock its 25th biggest position. Clear Street Derivatives LLC owned 0.23% of TruGolf as of its most recent SEC filing. Institutional investors own 3.24% of the company’s stock.

TruGolf Company Profile

TruGolf Holdings, Inc, through its subsidiary, engages in the development and sale of indoor golf simulator hardware under the TruGolf Nevada brand for residential and commercial markets in the United States. It also provides E6 Connect software for use on other companies' hardware. The company was founded in 1982 and is headquartered in Centerville, Utah.